Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of their new article on employee performance management. Employee performance management is an approach that revolves around analyzing employee feedback to align, engage, and inspire your workforce to work towards achieving the business goals.
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Employee performance management programs adopted by organizations today fall short of expectations for both the organization and the employee. This is mainly because such programs no longer follow a review-based approach that focuses solely on performance rather than learning and development. Also, it’s crucial to note that employee performance management is an ongoing process for establishing a shared understanding of what is to be achieved at an organizational level.
At Quantzig, we believe that businesses must leverage advanced analytics solutions to bring in change and differentiate themselves from their competitors. Employee performance analytics is one such solution using which businesses can align their organizational objectives with the employees’ skills and build strategies to create a high-performing workforce.
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Four Steps to Build an Employee Performance Management Program
Step 1: Identify your challenges
It’s crucial to first identify your challenges and understand the repercussions of not having a robust employee performance management process in place. The identification of your key challenges can help you prioritize them based on the business impact and the urgency to address them.
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Step 2: Establish process implementation objectives
Once you’ve identified your challenges its crucial to set new objectives and work towards achieving your goals. Establishing process implementation objectives will help you gauge the success of your program with ease by implementing the best practices in performance management.
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Step 3: Estimate ROI
Estimating returns will help quantify the benefits to justify the allocation of resources, time, and budgets. But if you don’t have a process in place, you might find it challenging to calculate the anticipated ROI of your workforce investments.
Step 4: Communicate the benefits
Communicating the benefits of your performance management initiatives is crucial from a business perspective as it will help you set the stage for the successful implementation of your performance management program.
We can help you drive profitable growth by helping you turn data into valuable insights. Contact our workforce analytics experts to know more.
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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